Why Many Businesses – Never Sell
It’s a fact that a high percentage of businesses for sale, will never sell. The owners simply end up closing the doors and walking away.
Some of the reasons for this are outlined below;-
1. The Ad for the business isn’t professional or well written – it therefore doesn’t attract genuine buyers or generate interest
2. The business is not advertised across multiple Business For Sale platforms – it therefore doesn’t get maximum exposure which limits the number of inquiries. As a result of limited advertising the business misses out on attracting thousands of potential buyers!
3. The business is only advertised using a single local agents website. This is far too limiting in this day and age! Businesses need to be advertised Australia-wide in as many different places as possible – most importantly on all of the top business for sale websites. This is where the ‘serious’ buyers are! It guarantees the best possible chance of a sale, and the best possible price!
4. The business is only advertised using free Advertising on Gumtree or Facebook Marketplace. Unfortunately serious business buyers are not generally looking on Facebook or Gumtree. It is the same as buying or selling a house, serious home buyers are not searching on Gumtree or Facebook Marketplace, they are using the top real estate listing websites such as realestate.com.au, realestateview.com.au, domain.com.au etc.
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Your business will be listed at the top of Google and other search engines, and across ALL of the top business for sale websites!
How Serious Are You About Selling?
When you think about selling your business, think about selling your home.
You wouldn’t list your home for sale using a local estate agent that was only displaying the Ad on their local website and in their front window.
This would be far too limiting. The chances are high that your home wouldn’t sell or that it wouldn’t get the best possible price due to limited exposure and no competition between buyers. Only the people visiting that single real estate agents website would ever see your Ad.
You would instead list with an agent that used ALL of the major online real estate sales platforms, such as domain.com.au, realestate.com.au, allhomes.com.au, and realestateview.com.au in addition to listing it on their own website and on social media.
This would give your Ad maximum exposure Australia-wide to everyone visiting any of these sites. It would generate maximum interest and your home would be seen by thousands upon thousands of potential buyers every day – instead of just the handful visiting the single agents website.
Selling a business is exactly the same. You want to showcase your business to thousands of potential buyers across all of the major business for sale websites – every day, and not limit it to only being seen by buyers visiting a single website. Listing across multiple platforms will create maximum buyer interest and also create competition between buyers. It gives your business the best possible chance of being seen and sold for the best possible price!
At the end of the day – limiting your advertising can limit the sale price of the business by tens of thousands of dollars or can result in the business not selling at all.
Ask yourself the question “how much would you be willing to spend on advertising to get the full asking price for your business?”
Worst Case Scenario
The absolutely worst case scenario when selling a business;-
You have chosen to list the business for sale on Gumtree yourself – 12 months down the track you have no serious inquiries and no serious interest. This is because serious business buyers are not looking for businesses for sale on Gumtree. Gumtree is generally suited to selling businesses under $20k, such as lawnmowing runs or small cleaning businesses. People browsing Gumtree are ‘looking for bargains’ not businesses!
You have chosen to list with an agent that only advertises your business on their own website – 12 months down the track you have had no serious inquiries and no serious interest. This is due to only a handful of people visiting the individual agents website!! There’s a whole wide world out there, outside of the local agents website – and your business has been missing out on all of that exposure. Business buyers go directly to the business for sale websites, where there are thousands of opportunities. They are no longer looking in small local agents windows or on small individual local agents websites. People are buying and selling businesses Australia wide across all of the major business for sale websites!
Once a business has been on the market for an extended period of time, it becomes ‘stale’ and much harder to sell. People can assume that there ‘is something wrong with it’ when in fact the only thing wrong – is the way that it has (or has not) been marketed!
CLICK TO VIEW OUR PROFESSIONAL BUSINESS FOR SALE ADVERTISING – We can Save you Thousands!
Or contact the ‘Brokerage Connection’ for help with Selling your Business